Hale Ka Lae is a new condo coming to Hawaii Kai by Avalon Development. Hale Ka Lae is a conversion of the existing 7000 Hawaii Kai Drive rental project where 213 of the units will be converted from rentals to individually owned condo units. The 56 affordable rentals in the project will not be converted.
For more information please call new condo project expert Marcel Chan (R) at (808) 392-1501 or email Marcel@HawaiiLiving.com.
Hale Ka Lae in Brief
Prices: $479,000 to $750,000 (expected).
213 units – 2BR to 4BR
Unit Features: Split AC, Washer, Dryer, Dishwasher, microwave, range/oven, Grohe bathroom fixtures, assigned parking, double pane tinted windows,
Lockout units: Some units have two separate living quarters with separate entrance giving owners an option to live in one and rent out the other
Developer expects about 100 units will be ready to sell in the fall 2018.
Sales process: Tenants will have first right to purchase the unit they reside in, then developer will offer 50% of units to owner occupants and finally remaining units available to purchase for anyone (owner-occupants or investors).
Amenities
Pool, hot tub, movie room, club room, fitness, kids playground, cabanas.
Reason for Conversion
Avalon has a mortgage and with rising interest rates it is hard to justify the costs vs income if they were to refinance. Therefore, the conversion.
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